Tag Archive for 'ERX'

Oils well that ends well

Published on September 10, 2010, 8:53 pm in Trading. Closed Tags: , , , , , .

Not much you can say about today except….oil, oil and oil! Which meant that UCO USO ERX were the place to be. And of course the calls I bought yesterday were golden.

Speakin’ of gold, it didn’t do so well today. Sure it closed in the green, but it took a dive. And if you look at the daily chart, it has a bearish evening star candle pattern. Better watch out!

Oh yeah, and the volume today just sucked. Can’t say more than that.

I’ll have my weekend reading out soon! Have a great weekend. :mrgreen:

Slick oil

Published on August 25, 2010, 10:34 pm in Opinions and Trading. Closed Tags: , , , , , , , .

One of those weird days when gold, oil and the dollar, along with stocks, were up! As expected Durable Goods and the New Home sales sucked. Unexpected was the big oil inventories build-up, which sunk oil prices. But, like the last time this happened in late May, traders saw opportunity and started buying oil futures. And like it has done all year, oil led a move to the upside for stocks.

Keep an eye on oil to see which way we go stockwise. If oil continues its bravery, watch UCO USO and ERX.

Semiconductors also had some oomph in its step, most likely with the help of AAPL and INTC, but also watch XLK and SMH.

The crash for the day belongs to golfer Jim Furyk: Jim Furyk is disqualified from Barclays for missing pro-am tee time. Gee if he traveled more often he would know wbout hotel wake-up calls! :cry: